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Were Trade and Factor Mobility Substitutes in History?

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Author Info
Collins, William J
O''Rourke, Kevin H
Williamson, Jeffrey G

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Abstract

Trade theorists have come to understand that their theory is ambiguous on the question: are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill the gap. It treats the experience of the Atlantic economy between 1870 and 1940 as panel data with almost 700 observations. When shorter run business cycles and ‘long swings’ are extracted from the panel data, substitutability is soundly rejected. When secular relationships are extracted over longer time periods and across trading partners, once again substitutability is soundly rejected. Finally, the paper explores immigration policy and finds that policy-makers never behaved as if they viewed trade and immigration as substitutes.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1661.

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Date of creation: Jun 1997
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Handle: RePEc:cpr:ceprdp:1661

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Keywords: Factor Mobility Trade

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Find related papers by JEL classification:
F1 - International Economics - - Trade
F2 - International Economics - - International Factor Movements and International Business
N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. J Anderson & J.P Neary, 1994. "Measuring the Restrictiveness of Trade Policy," CEP Discussion Papers 0186, Centre for Economic Performance, LSE.
    Other versions:
  2. J. Peter Neary, 1995. "Factor Mobility and International Trade," Canadian Journal of Economics, Canadian Economics Association, vol. 28(s1), pages 4-23, November.
    Other versions:
  3. Henry Thompson, 1985. "Complementarity in a Simple General Equilibrium Production Model," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 616-21, August. [Downloadable!] (restricted)
  4. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1995-1), pages 1-118. [Downloadable!]
  5. Taylor, Alan M & Williamson, Jeffrey G, 1994. "Capital Flows to the New World as an Intergenerational Transfer," Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 348-71, April. [Downloadable!] (restricted)
    Other versions:
  6. Markusen, James R., 1983. "Factor movements and commodity trade as complements," Journal of International Economics, Elsevier, vol. 14(3-4), pages 341-356, May. [Downloadable!] (restricted)
  7. Schmitz, Andrew & Helmberger, Peter, 1970. "Factor Mobility and International Trade: The Case of Complementarity," American Economic Review, American Economic Association, vol. 60(4), pages 761-67, September. [Downloadable!] (restricted)
  8. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-48, December. [Downloadable!] (restricted)
  9. Grubert, Harry & Mutti, John, 1991. "Taxes, Tariffs and Transfer Pricing in Multinational Corporate Decision Making," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 285-93, May. [Downloadable!] (restricted)
  10. O'Rourke, Kevin H., 1997. "Measuring protection: a cautionary tale," Journal of Development Economics, Elsevier, vol. 53(1), pages 169-183, June. [Downloadable!] (restricted)
  11. Ashley S. Timmer & Jeffrey G. Williamson, 1996. "Racism, Xenophobia or Markets? The Political Economy of Immigration Policy Prior to the Thirties," NBER Working Papers 5867, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Kemp, Murray C. & Ohyama, Michihiro, 1978. "On the sharing of trade gains by resource-poor and resource-rich countries," Journal of International Economics, Elsevier, vol. 8(1), pages 93-115, February. [Downloadable!] (restricted)
  13. Jeffrey Sachs & Andrew Warner, 1995. "Economic Reform and the Progress of Global Integration," Harvard Institute of Economic Research Working Papers 1733, Harvard - Institute of Economic Research.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ben Dolman, 2007. "Patterns of Migration, Trade and Foreign Direct Investment across OECD Countries," DEGIT Conference Papers c012_030, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
  2. Linda S. Goldberg & Michael W. Klein, 1999. "International Trade and Factor Mobility: An Empirical Investigation," NBER Working Papers 7196, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Faini, Riccardo, 2004. "Trade Liberalization in a Globalizing World," IZA Discussion Papers 1406, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  4. Amaranta Melchor del Río & Susanne Thorwarth, 2006. "Tomatoes or Tomato Pickers? - Free Trade and Migration in the NAFTA Case," Working Papers 0429, University of Heidelberg, Department of Economics, revised Dec 2006. [Downloadable!]
  5. Kevin H. O'Rourke, & Richard Sinnott, 2003. "Migration flows: Political Economy of Migration and the Empirical Challenges," The Institute for International Integration Studies Discussion Paper Series iiisdp06, IIIS. [Downloadable!]
    Other versions:
  6. Alan M. Taylor & Janine L. F. Wilson, 2006. "International Trade and Finance under the Two Hegemons: Complementaries in the United Kingdom 1870-1913 and the United States 1920-30," NBER Working Papers 12543, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Michael D. Bordo & Barry Eichengreen & Douglas A. Irwin, 1999. "Is Globalization Today Really Different than Globalization a Hunderd Years Ago?," NBER Working Papers 7195, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Timothy J. Hatton & Jeffrey G. Williamson, 2001. "Demographic and Economic Pressure on Emigration Out of Africa," NBER Working Papers 8124, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  9. Elissaios Papyrakis & Reyer Gerlagh, 2004. "Resource-Abundance and Economic Growth in the U.S," Working Papers 2004.62, Fondazione Eni Enrico Mattei. [Downloadable!]
  10. Don J. DeVoretz, 2006. "A History of Canadian Recruitment of Highly Skilled Immigrants: Circa 1980-2001," IZA Discussion Papers 2197, Institute for the Study of Labor (IZA). [Downloadable!]
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